JAKARTA – PT Singaraja Putra Tbk (SINI), an accommodation service provider, is conducting a mandatory tender offer (MTO) for 24.59% of total issued and paid-up capital of the company. The transaction value is projected to reach a maximum of IDR 37.37 billion.

Based on the prospectus quoted today (26/1), SINI holds an MTO for 118,278,650 units of shares with an offering price of IDR 316 per share, starting from January 26 to February 24, 2023.

This corporate action takes place after SINI has been acquired by new controlling parties, consisting of PT Autum Prima Indonesia (API) that claims 30% of the shares, PT Basis Energi Prima (BEP) of 28%, and Batubara Development Pte Ltd (BBD) of 12%.

The original shareholders were Hendra Hasan Kustarjo, Maxmiliaan Adrianus Gerardus Van Laarhoven, Rafael Andraka Kustarjo, Rachel Kasih Kustarjo, and Reinhard Andradi Kustradjo.

When acquiring 70% of SNI’s shares on November 11, 2022, these three investors spent IDR 84.17 billion for 336.7 million shares of IDR 250 each. (LK/ZH)